According to the latest data from Bitinfocharts, average fees reached $6.47 and $1.94 for bitcoin and ethereum respectively, coinciding with increased usage as prices rallied.
In addition to the "Block-reward" system, each transaction has a small fee paid to cryptocurrency miners. A limit on the number of transactions able to be processed on each network has created a fee market, with users needing to pay more to prioritize transactions.
The company recently appointed a new head of digital assets, Mathew McDermott, and indicated a possible collaboration with the likes of JPMorgan and Facebook. The new digital assets head said it is crucial to build "Consensus with other banks, institutional investors and regulators" stating that "In the next 5 to 10 years, you could see a financial system where all assets and liabilities are native to a blockchain".
New York Regulator Fast-Tracks 10 Cryptocurrencies
The New York State Department of financial services & the regulator of the contentious Bitlicense, has published a "Greenlist" with 10 cryptocurrencies for custody and 8 cryptocurrencies for exchange listing.
The BitLicense was first proposed in July 2014, and in the years since the state of New York has gained a reputation for being notoriously difficult to do cryptocurrency-related business in, resulting in numerous companies abandoning New York operations.
India's largest mobile commerce & financial services platform "Paytm" has reportedly been freezing bank accounts of users suspected of cryptocurrency trading, despite being legal in the country.
Local Indian news outlet "Coin Crunch" reported on the situation stating "Crypto trading is not illegal. Banks are not restricted. However banks can act in their own interest, so users are advised to take caution."
Microstrategy Inc. moves $250 Million into bitcoin
The Nasdaq listed company made the enormous purchase in a move to adopt the cryptocurrency as its primary reserve. CEO Michael Saylor commented, "Our investment in bitcoin is part of our new capital allocation strategy, which seeks to maximize long-term value for our shareholders".
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